Thatcher Wouldn't Have Gone Wobbly on Detroit

Keynesianism is proof you shouldn't 'leave economics to economists.'

There's a telling difference between the Big Three auto makers and the average American household today. It's the difference in their appetite for debt.

The auto makers want to borrow a huge amount of money from the only source that might be willing to extend additional credit to them: the federal government. They have nothing to lose because they are, in effect, already bankrupt.